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“利率走廊”调控含义、机理与机制——无基础货币供给量调控的启示
Explanation and Mechanism of Interest Rate Corridor Regulation—Insight from Non-base Money Supply Regulation
【摘要】 电子结算系统和电子货币的发展大大减少了基础货币的需求,这种趋势使得加拿大等国的中央银行放弃货币量调控转向了“利率走廊”调控。借助数学模型的分析探究该调控模式的机理实质是无基础货币供给量调控,图像的证明揭示了其运行的机制。加国成功的运作经验更提示我们做好相应的理论研究和操作准备,以应对电子结算系统和电子货币的发展对我国宏观调控、中央银行角色和货币政策设计、整个经济运行,甚至经典经济理论的挑战。
【Abstract】 The electronic settlement system and electronic money greatly reduced the demand for base money.This has led central banks such as that in Canada to adopt interest rate corridor regulation instead of money amount.The effectiveness of such regulation can be proved by mathematics model and illustrated by graphs.The successful operation of such regulation in Canada indicates that we should prepare for further research and application to respond the challenges to China macro-economic regulation,the role of the Central Bank and monetary policy design,the national economic performance,and even the classic economics theory.
【Key words】 Electronic settlement system; Electronic money; Interest rate regulation;
- 【文献出处】 当代经济科学 ,Modern Economic Science , 编辑部邮箱 ,2006年01期
- 【分类号】F820
- 【被引频次】30
- 【下载频次】872